News / Page 249

Asian Session – Australian dollar recovers after new low, euro, dollar await key data

Posted on January 30, 2015 at 7:44 am GMT

The aussie managed to recover from its fresh 5 ½ year low the previous day, while major pairs seemed to be lacking direction, with the bias towards a weaker dollar and stronger yen and euro during today’s session. The Australian dollar backed away from yesterday’s low at 0.7719 against the dollar to trade around 0.7780. Trading in the aussie has been volatile, as only two days ago the pair had managed to top the 80 US cents mark and [..]

Technical Analysis – USDJPY pauses upside momentum, consolidates at 117.90

Posted on January 30, 2015 at 7:39 am GMT

USDJPY is consolidating around 117.90, which is the 23.6% Fibonacci retracement level of the upleg from 105.19 to 121.84. More sideways trading could be seen as prices remain trapped within the daily Ichimoku cloud and the tenkan-sen and kijun-sen lines are flat. The RSI is moving sideways which also suggests consolidation in the near term. It is testing the 50 line which demarcates bullish from bearish territory. To the downside 115.55 is seen as support. It is the December 16 [..]

European Session – Euro holds steady as focus turns to Eurozone CPI, dollar supported by lower jobless claims

Posted on January 29, 2015 at 3:28 pm GMT

The FOMC statement from Wednesday still dominated markets today, keeping the dollar firm and the euro and sterling in their recent ranges. The Fed’s message supports the upward dollar trend as it signaled that the earliest it would increase interest rates would be in June although there was a caveat – policy is data dependent and international developments are part of their assessment. The euro was steady, managing to pop up into the 1.13 handle to reach a high of [..]

Forex News – Federal Reserve is still “patient” with rates; weighs jobs, growth and inflation ahead

Posted on January 29, 2015 at 1:22 pm GMT

The Federal Reserve statement, which was released following its 2-day meeting that ended on Wednesday, contained no big surprises. Still, there were some shifts in the Fed’s language which do provide clues as to what happens next. The most important point was perhaps that the Fed has upgraded its view of the US economic expansion to “solid” from “moderate”. It also upgraded its view of job gains, describing them as “strong” instead of “solid” in the previous statement. The Fed [..]

Asian Session – US dollar firm after Fed; kiwi drops to 4-year low on RBNZ

Posted on January 29, 2015 at 8:12 am GMT

The US dollar firmed in the previous session and retained those gains during the Asian session, after the Federal Reserve gave a positive assessment of the US economy. The euro was driven below the 1.13 level to trade as low as 1.1260, but dollar / yen was struggling to overcome the 118 level. Risk assets were under some pressure, which might have led to some safe haven buying of the yen. The Federal Reserve described the US economic expansion as [..]

Technical Analysis – EURJPY could see another leg lower

Posted on January 29, 2015 at 7:37 am GMT

EURJPY maintains its bearish trend in the medium term and is neutral on an intra-day basis. The recovery looks limited after bouncing from a low of 130.13. The pair rallied to 134.34 yesterday before easing back down to 132.80. The intra-day bias is neutral as the market remains trapped in the hourly Ichimoku cloud and the tenkan-sen and kijun-sen lines are flat, suggesting consolidation around 133.00. The outlook remains bearish as the pair has made lower lows peaks and lower [..]

European Session – Focus on FOMC keeps dollar soft

Posted on January 28, 2015 at 2:58 pm GMT

Currency markets were relatively calm as many investors preferred to wait on the sidelines ahead of an important risk event today – the Federal Reserve issues its statement later in the US session and will be the main highlight of the day. As a result, the dollar retained a softer tone going into the FOMC announcement, allowing the euro to hold steady in the 1.13 handle after bouncing from an 11-year low of 1.1096 on Monday. The market mostly ignored [..]

Forex News – Australian inflation dampens bets of rate cuts by RBA

Posted on January 28, 2015 at 1:41 pm GMT

The news that Australian consumer prices for the fourth quarter held well, put a damper on expectations that the Reserve Bank will cut interest rates in the near future. While the headline inflation slightly missed expectations as a result of the fall in energy prices, other inflation measures which exclude the extreme price-moving categories, managed to beat forecasts. More specifically, Consumer prices increased 0.2% quarter-on-quarter against expectations of a 0.3% increase while the year-on-year rise was 1.7% against expectations of [..]

Technical Analysis – AUDUSD pauses downtrend to test key 0.8000 level

Posted on January 28, 2015 at 8:28 am GMT

AUDUSD has made some recovery from a 6-year low of 0.7857 reached earlier this week and has since bounced to test the key 0.8000 level. This will prove to be an important resistance level. The pair managed to briefly breach this level early today to hit 0.8024. After the post-Australian CPI surge this morning, the pair has been consolidating and the intra-day bias looks neutral as indicated by the hourly RSI. However, in the bigger picture, the downtrend remains in [..]

Asian Session – Aussie rallies on CPI; US dollar awaits Fed statement

Posted on January 28, 2015 at 8:05 am GMT

The US dollar was trying to make a comeback after being sold heavily the previous day because of profit-taking and some mixed data that cast some doubts on the strength of the US economic expansion. Furthermore, according to the earnings reports of US multinationals, the strong dollar was having a negative impact on their profitability, which in turn hurt the US stock market. Euro / dollar was trading at 1.1365, after briefly trading above 1.14 the previous day. Dollar / [..]

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